First for 14 years.
Confirming earlier rumours, Sony has posted its last financial year’s results which, as predicted, show Sony’s first loss in 14 years – ¥98.9 Billion.
To Sony’s credit, perhaps, that is better than its last forecast, which warned the loss could be closer to ¥150 billion. Nonetheless, it’s still a notable fall from the last financial year’s ¥369 billion profit. The fall is blamed, not unrealistically, on “factors including the slowdown of the global economy, the appreciation of the yen and the decline in the Japanese stock market.”
Notable areas of what I’ll call ‘less that desirable’ performance were Sony’s Games and Electronics divisions and Sony Ericsson. Sony Pictures managed to turn a profit, though.
Sony is hardly alone in being hit by the global recession. It’s how the company comes out the other side that will be most interesting to see.